In its base case, the bank thinks the Fed will completely exit its bond-buying program by December, which adds 50 basis points to long-term U.S. interest rates by the end of 2015 and 100 basis points by the end of 2016. Policy rates start to increase in the third quarter of 2015 in that scenario.

That only cuts capital flows to emerging markets by around 0.6% of gross domestic product.

The bank, however, doesn’t rule out a faster exit, saying a 100-200 basis points spike in interest rates is possible if the Fed accelerates its timetable or overshoots its economic targets. That could cut capital flows by 50%-85% for several quarters.

The real concern of a sharp tightening in capital flows, says Andrew Burns, the chief author of the bank’s flagship report, is where economies have large trade deficits, high private sector indebtedness, and big foreign currency exposures.

Now is the time to shore up their economies, Mr. Burns says.

But what countries are most vulnerable?

Thailand and Turkey are targeted as two economies with the biggest risks, especially with their ongoing political turmoil. But, as these World Bank charts show, there are a host of other nations with their own particular exposures:

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